GMOTrading broker review

April 21, 2018

No one likes to fall for a scam, especially when it involves money. Yet such scams still go on regardless because the conmen keep learning new tricks. It is no different when it comes to the online retail Forex market. In an industry with a daily transaction of $5.1 trillion, that number could not fail to attract these conmen. Indeed, the fraudsters have filled the industry to a point where legislators are calling for tighter regulation. While that may help to reduce the Forex scams, your safest option is to learn how to spot them yourself. Is GMOTRading one of such companies to avoid? Is the GMOTrading scam that has been in action for a few years? Read our review and you will find out!

gmotrading

GMOTrading Review

This broker is safe to sign up!

Sign up with GMOTrading

80% of investor lose money when trading CFDs with GMOTrading

Clues from the GMOTrading website review

GMOTrading-review

80% of investor lose money when trading CFDs with GMOTrading

Being an online-based business, most of the information should be obtained from their website, and GMOTrading is not failing at this. If you’re asking, is GMOTrading a scam? Then this is something you have to keep in mind. The best Forex brokers provide all the necessary information a potential client may need before signing up, and GMOTrading does exactly that! They do provide is a license number to show that they are regulated by CySEC and all the other information that you may need.

They offer trading instruments in currency pairs, cryptocurrencies, stocks, metals, and other CFDs. There was no list of these instruments on their website since it is just too big to include on the website or in our GMOTrading review. The easiest way to find all of them out is by opening a demo account. The additional important factor to consider about the broker is its spreads. A look at the spreads shows that they are pretty narrow, especially on major currency pairs.

GMOTrading features

There are features that every broker has, however they are always different. These features are ultimately what make the decisive influence on traders to go for that particular broker. Let’s now discuss if GMOTrading Forex broker has what it takes to rival the best companies in the industry.

Leverage

The leverage is based on what type of account you open with the brokerage. There are 2 types right now: 1:30 for all accounts and 1:500 on professional accounts. Keep in mind that this leverage is for FX only.

Spreads

The spreads vary according to the GMOTrading account types. On the most popular currency pair, EUR/USD, traders get 2.2 pips with Silver, 1.3 pips with Gold and, 0.7 pips with Platinum

Withdrawal

The withdrawal process with GMOTrading is the same as pretty much anywhere else. The application for withdrawal can be made any time and takes couple of business days depending on the method you request the withdrawal with. Unfortunately, there are cases where the withdrawal will be subject to fees if the account had a significant span of time without activity. In this case the fee will be EUR 50. If the withdrawal ammount is less than EUR 100, then it will be subject to additional fees. Unfortunately the amount of those fees is not disclosed.

This could be a massive turn-off for traders, but honestly, you’ll very rarely encounter these fees. First of all, the inactivity is not an issue as traders tend to be quite consistent with their trading. Second, it’s quite irrelevant to withdraw EUR 100 from the account unless it is an emergency, which is rarely the case.

GMOTrading-reviews

80% of investor lose money when trading CFDs with GMOTrading.

Is GMOTrading legit?

The answer to this question is a resounding yes as there is nothing about them that will tell you otherwise. Some of the GMOTrading reviews seem to be not so positive, but we are sure that they are legit and those reviews were written by people who had nothing in common with Forex trading. We can recommend you to sign up with GMOTrading!

Sign up with GMOTrading